We’d like to say a huge congratulations to our Seedrs Alumni, Revolut, for closing a significant new funding round this week and their ongoing growth and success. Revolut has just closed the round at $500M, led by TCV at a $5.5B valuation (a threefold increase from when it was last valued by investors at $1.7B in April 2018). This news means that the business has now raised a total of $836M in its funding rounds. Revolut is a crowdfunded Unicorn, and their success is allegorical of the power and potential of investment crowdfunding; we’re delighted to have supported their prosperity.
With more than 10M customers (mostly in Europe and the UK), they have seen the following growth:
- The total number of users grew by 169% in 2019.
- Daily active customers grew by 380% in 2019.
- Revenue grew by 354% in 2018 (yes, 2018).
- Revenue from premium subscription plans (Revolut Premium and Revolut Metal) grew by 154% in 2019.
With the new cash injection, Revolut says that it’ll focus on enhancing its product for existing users as well as revenue. It’s all about making Revolut more useful and stickier going forward.
We do not expect this round to be opened for further investment on a primary basis, but we would expect that existing Revolut shareholders will have the opportunity to buy more shares or sell on a secondary basis in the near future. Revolut will remain ineligible for Secondary Market for the next trading cycle which opens next week, but we expect it will be listed again for the April cycle.
Please note that investing involves risks, including loss of capital, liquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Not all shares will be eligible for the Secondary Market and, even if they are, the ability to buy and sell shares will depend on demand. Investors should not assume that an early exit will be available just because a secondary market exists.
